Loan Against Property EMI (or equated monthly instalment) is a fixed amount of money you pay GIC Housing Finance towards repayment of your property loan every month on a fixed day of the month till your loan is fully paid back.

With GIC Housing Finance now offering loan tenure upto 18 years at attractive interest rates starting is %, your EMI can be as low as Rs. 0 per Rs. one lakh loan amount.

The Loan Against Property EMI comprises of both principal repayment and interest payment. While the EMI amount remains constant, the interest component of keeps reducing and the principal component keeps increasing, except in case of an increase in interest rate on the loan.

Use the above quick and easy tool to easily calculate and compare monthly EMI on GIC Housing Finance Loan Against Property.

Will the GIC Loan Against Property EMI remain constant or change in future? What happens in case of increase or decrease in interest rate?

Typically, the Loan Against Property EMI remains unchanged unless the customer requests for a change and the same is approved by GIC Housing Finance subject to its eligibility conditions (note that nominal charges may apply for effecting a customer initiated change in EMI).

In case the floating rate of interest on your loan increases, GIC Housing Finance will typically keep the EMI constant but increase the loan tenure. So, you will pay the same EMI but for a longer duration. In case the interest rates increase to an extent that the revised loan tenure is more than the maximum permissible by GIC Housing Finance, the bank may increase your EMI amount.

Will Loan Against Property EMI change in case of prepayment?

When you make a prepayment, the outstanding principal amount on your property loan reduces. You may choose to either keep the EMI the same and reduce the loan tenure (enabling you pay off the loan faster) or reduce the EMI and keep the loan tenure unchanged (thus paying lesser amount every month). It is beneficial to keep the EMI constant and reduce the loan tenure as you pay less interest to the bank in this option.

As per the results for the Q1FY17 , GIC Housing Finance reported a 14.4 percent increase in its Net Profit to Rs 32.32 crore. Total Income increased by 14.8 percent to Rs 234.87 crore in June quarter as compared to previous year. provision for contingencies increased by 50.75 % on a yoy basis and the provision for taxes increased by 15 percent compared to the previous year.

As per the results stated quarter ending March 2016, GIC Housing Finance Net Profit increased by 34.55 percent year on year to Rs. 35.87 crore. Its Net Interest Income (NII) increased by 23.373 percent year on year to Rs. 78.27 crore

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